Topic: [WANT] 2 BTC [PUTTING UP] 3.25 BTC Collateral [PAY] $500 USD [TERM] 30 DAYS - page 4. (Read 1184 times)
legendary
Activity: 2464
Merit: 3878
Hire Bitcointalk Camp. Manager @ r7promotions.com
February 09, 2018, 05:44:16 AM
If i read this correct you want to receive three payments BEFORE you put the collateral in escrow?
February 08, 2018, 04:15:18 PM
I can do this on the terms that have already been established.
February 08, 2018, 01:36:16 PM
I can fill this loan for $750 interest. But if the collateral falls below 120% of loan amount, then I'll sell them to ensure I don't get screwed by a crash.
February 08, 2018, 12:55:16 PM
Offer is still open to other lenders.
February 07, 2018, 07:48:49 PM
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
Because then you wouldn't have any collateral and therefore you'd have all the risk instead of the OP. As proposed, the OP would risk everything and also have all the benefits if it works (minus $500). It seems you didn't read OP or didn't understand it.Where is the value add? This makes no sense.
The only thing you need to say explicitly Ggddtt: if the collateral decreases in value and you fail to send more BTC to keep it at more than 120% then there must be a condition to liquidate the collateral while it's still above 100%. The lender and you need to agree on the thresholds (ex: 120% and 108%) and time limit to send more BTC.
You can also make it a little more simple if the lender (if trusted, otherwise the escrow) directly buys the altcoins you say and keeps them, instead of sending the BTC to you.
Yes, this is right. If I fail to give Bitcoin to maintain the ratio within a reasonable amount of time and the value has dropped below 120%, the lender/escrow has the right to liquidate.
I just don't want the lender to panic when it's 130% or something and not give me any time or chance to be able to top it off so that the altcoins do not get sold.
I am also comfortable with the lender or escrow directly purchasing the altcoin. That is probably the better method actually.
I can fill this loan in its entirety, and we can use a trusted escrow for all trades. My only condition is, if the value drops under 120% and you don't message me to top it up, I'll liquidate your holdings and have your collateral returned
Sent a message to you and an available escrow. Will ask another escrow if he declines.
February 07, 2018, 06:16:14 PM
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
Because then you wouldn't have any collateral and therefore you'd have all the risk instead of the OP. As proposed, the OP would risk everything and also have all the benefits if it works (minus $500). It seems you didn't read OP or didn't understand it.Where is the value add? This makes no sense.
The only thing you need to say explicitly Ggddtt: if the collateral decreases in value and you fail to send more BTC to keep it at more than 120% then there must be a condition to liquidate the collateral while it's still above 100%. The lender and you need to agree on the thresholds (ex: 120% and 108%) and time limit to send more BTC.
You can also make it a little more simple if the lender (if trusted, otherwise the escrow) directly buys the altcoins you say and keeps them, instead of sending the BTC to you.
You're right, I misunderstood - that's what I get for browsing while at work. I agree wholeheartedly with your last statement, due to the volatility. Good luck.
February 07, 2018, 06:11:36 PM
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
Because then you wouldn't have any collateral and therefore you'd have all the risk instead of the OP. As proposed, the OP would risk everything and also have all the benefits if it works (minus $500). It seems you didn't read OP or didn't understand it.Where is the value add? This makes no sense.
The only thing you need to say explicitly Ggddtt: if the collateral decreases in value and you fail to send more BTC to keep it at more than 120% then there must be a condition to liquidate the collateral while it's still above 100%. The lender and you need to agree on the thresholds (ex: 120% and 108%) and time limit to send more BTC.
You can also make it a little more simple if the lender (if trusted, otherwise the escrow) directly buys the altcoins you say and keeps them, instead of sending the BTC to you.
Yes, this is right. If I fail to give Bitcoin to maintain the ratio within a reasonable amount of time and the value has dropped below 120%, the lender/escrow has the right to liquidate.
I just don't want the lender to panic when it's 130% or something and not give me any time or chance to be able to top it off so that the altcoins do not get sold.
I am also comfortable with the lender or escrow directly purchasing the altcoin. That is probably the better method actually.
I can fill this loan in its entirety, and we can use a trusted escrow for all trades. My only condition is, if the value drops under 120% and you don't message me to top it up, I'll liquidate your holdings and have your collateral returned
February 07, 2018, 04:46:33 PM
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
Because then you wouldn't have any collateral and therefore you'd have all the risk instead of the OP. As proposed, the OP would risk everything and also have all the benefits if it works (minus $500). It seems you didn't read OP or didn't understand it.Where is the value add? This makes no sense.
The only thing you need to say explicitly Ggddtt: if the collateral decreases in value and you fail to send more BTC to keep it at more than 120% then there must be a condition to liquidate the collateral while it's still above 100%. The lender and you need to agree on the thresholds (ex: 120% and 108%) and time limit to send more BTC.
You can also make it a little more simple if the lender (if trusted, otherwise the escrow) directly buys the altcoins you say and keeps them, instead of sending the BTC to you.
Yes, this is right. If I fail to give Bitcoin to maintain the ratio within a reasonable amount of time and the value has dropped below 120%, the lender/escrow has the right to liquidate.
I just don't want the lender to panic when it's 130% or something and not give me any time or chance to be able to top it off so that the altcoins do not get sold.
I am also comfortable with the lender or escrow directly purchasing the altcoin. That is probably the better method actually.
February 07, 2018, 04:08:27 PM
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
Because then you wouldn't have any collateral and therefore you'd have all the risk instead of the OP. As proposed, the OP would risk everything and also have all the benefits if it works (minus $500). It seems you didn't read OP or didn't understand it.Where is the value add? This makes no sense.
The only thing you need to say explicitly Ggddtt: if the collateral decreases in value and you fail to send more BTC to keep it at more than 120% then there must be a condition to liquidate the collateral while it's still above 100%. The lender and you need to agree on the thresholds (ex: 120% and 108%) and time limit to send more BTC.
You can also make it a little more simple if the lender (if trusted, otherwise the escrow) directly buys the altcoins you say and keeps them, instead of sending the BTC to you.
February 07, 2018, 03:41:35 PM
I’m quite unsure as to what you mean. It all seems very complicated and I’m sure that you can explain this much better.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
-snip-
The 2 Bitcoin will be used to immediately buy the same coins. These coins will be sent to the lender (or escrow) after purchase.
Therefore, the lender will have lent out 2 Bitcoin but be holding ~3.25 Bitcoin worth of these altcoins as collateral (~182%).
-snip-
Why would I give you 2 BTC to go and purchase altcoins and then give me altcoins? If I want to buy altcoins, why wouldn't I just go purchase them myself and cut you out?
Where is the value add? This makes no sense.
February 07, 2018, 03:01:28 PM
I’m quite unsure as to what you mean. It all seems very complicated and I’m sure that you can explain this much better.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
I'll try to simplify.
The 2 Bitcoin will be used to immediately buy the same coins. These coins will be sent to the lender (or escrow) after purchase.
Therefore, the lender will have lent out 2 Bitcoin but be holding ~3.25 Bitcoin worth of these altcoins as collateral (~182%).
Should the value of the altcoins in Bitcoin value, slip from ~182% to ~120% of the value (2.4 Bitcoin), I will be giving Bitcoin to the lender to pay down the loan amount so that the ratio of collateral stays above. I do not, at any costs, want the altcoins to be liquidated unless the ratio is completely broken through.
February 07, 2018, 02:41:33 PM
I’m quite unsure as to what you mean. It all seems very complicated and I’m sure that you can explain this much better.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
But what I do see is that you’re wanting the lender to not liquidate your altcoins which is pretty much not going to happen. If you were to take out a loan from anyone the lender will have to liquidate the collateral if it goes under a certain amount that is predetermined. If collateral slips below 100% and you don’t pay back then it’s a huge risk for the lender
PM me with a simplified version of this and I’ll get back to you.
February 07, 2018, 02:24:26 PM
Want: 3 x .66666 Bitcoin payments equaling 2 Bitcoin
Reason: To increase holdings of certain altcoins for 30 days.
Collateral: 170,000 Tronix (TRX), 581 Icon (ICX), 28,260 Verge (XVG) (a sum of ~1.25 BTC current value) PLUS all coins purchased through lended bitcoin
I will sign a bitcoin address stating my transfer of assets to lender's addresses. I will then be taking each .666 Bitcoin payment one at a time to buy a mixture of these three coins and sending to lender for each payment.
This will result in the lender having ~3.25 BTC worth of collateral. At the end of the term [maximum 30 days from loan given], a trusted escrow will be given 2 Bitcoin + $500 USD for interest (escrow fees covered by me). The lender will send all altcoin holdings back to me after signing the same bitcoin address providing receiving addresses, and escrow will release payment to lender upon confirmation of receiving.
Lender must keep the coins in their native currency. If for any reason, the value of collateral slips into a dangerous period where the value is not more than 120% of the value, the lender will be given Bitcoin towards payment to maintain the ratio. The lender must not attempt to sell.
Trusted lenders only.
Reason: To increase holdings of certain altcoins for 30 days.
Collateral: 170,000 Tronix (TRX), 581 Icon (ICX), 28,260 Verge (XVG) (a sum of ~1.25 BTC current value) PLUS all coins purchased through lended bitcoin
I will sign a bitcoin address stating my transfer of assets to lender's addresses. I will then be taking each .666 Bitcoin payment one at a time to buy a mixture of these three coins and sending to lender for each payment.
This will result in the lender having ~3.25 BTC worth of collateral. At the end of the term [maximum 30 days from loan given], a trusted escrow will be given 2 Bitcoin + $500 USD for interest (escrow fees covered by me). The lender will send all altcoin holdings back to me after signing the same bitcoin address providing receiving addresses, and escrow will release payment to lender upon confirmation of receiving.
Lender must keep the coins in their native currency. If for any reason, the value of collateral slips into a dangerous period where the value is not more than 120% of the value, the lender will be given Bitcoin towards payment to maintain the ratio. The lender must not attempt to sell.
Trusted lenders only.
Jump to: